tourism and hospitality

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January 2022

How innovation helps a business succeed in the tourism and hospitality industries

2022-01-09T22:16:58+00:00

Portfolio analyses evaluate an organization’s portfolio of business units by assessing the profitability and attractiveness of the industries the organization competes in as well as the competitive edge of an organization’s business units. As a result, portfolio analyses can offer key insights into the organization’s offerings. Lifecycles capture the evolution of industries, products, services and organizations. When portfolio analyses and lifecycles are combined, the findings can be very powerful because this approach looks at the positioning, the competitive advantages and the stages of products and services, thereby informing strategy development as well as effective management accordingly. Firstly, differentiation may help determine [...]

How innovation helps a business succeed in the tourism and hospitality industries2022-01-09T22:16:58+00:00

December 2021

Insights into future business development in tourism and hospitality

2021-12-20T13:31:55+00:00

An in-depth SWOT analysis will provide more insights into the future business development of The Hibiscus Tree, a thriving business in the tourism and hospitality industry in spite of the pandemic. Strengths and weaknesses: First and foremost, the organization’s internal strengths include the convenient access to authentic key ingredients such as Sichuan chilies and effective marketing approaches on the Internet. Because most restaurants in this category do not have access to authentic key ingredients such as chilies from Sichuan Province, China, they are unable to offer truly authentic Sichuan cuisine in Adelaide. Loyal and seasoned customers know exactly what they want, [...]

Insights into future business development in tourism and hospitality2021-12-20T13:31:55+00:00

November 2021

How The Hibiscus Tree achieved their success in the tourism and hospitality industry

2021-11-01T11:12:38+00:00

Because the business owner of the Hibiscus Tree uses Xero as the bookkeeping and accounting software, the financial performance of this organization is automatically measured. At the end of each month, the business owner checks the accounting software to find out the numbers. For example, if the profit in May is higher than the profit in April, the business owner would identify the employees that contributed the most to the organization and give them some kind of reward. In psychology, this strategy is called ‘positive reinforcement’. Note that this only happens when the profit is higher (not when the revenue is [...]

How The Hibiscus Tree achieved their success in the tourism and hospitality industry2021-11-01T11:12:38+00:00
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